12:06, 10 June 2009 Page views 360 views

Association of Banks of Azerbaijan Prepares Second Package of Anti-crisis Advices for Banks

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The Association of Banks of Azerbaijan (ABA) is not going to stop work on development of anti-crisis program for country’s banks. ABA executive director Farkhad Aliyev says that despite the Association’s Presidium has already endorsed the first recommendations to banks within the anti-crisis program the program-maker expert group is to continue its activity.

“Besides the four directions approved by the Presidium for submission to the banks, the expert group is also preparing a new package of recommendation proposals. They will be worked out in June or July,” Aliyev said.

The first package of proposals concerned the recommendations on strengthening of risk management practice and ensuring cash in ATMs. Thus, ABA already has expert groups for legal affairs, payment systems and card circulation and anti-crisis measures.

The ABA group on legal affairs put a start to system of Association’s expert groups in 2008. Following its activity the ABA Presidium approved the draft amendments to the Law on Housing Mortgage. The amendment document was drafted with active participation of the International Bank of Azerbaijan, Texnikabank, Bank Respublika, Bank Standard and others.

In ABA plans are also creation of groups on marketing and PR. The matter of groups was covered clearly in the ABA Main Directions of Activities & Institutional Development 2007-11. The main directions also include ABA institutional strengthening and creation of a business school.


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